10/9/2024, 11:23:03 am

Hewlett Packard shares fall on $1.35 billion convertible stock offering

Hewlett Packard Enterprise’s shares dropped 6.4% in extended trading after the AI server maker announced a $1.35 billion mandatory convertible preferred stock offering to fund its acquisition of Juniper Networks. Earlier this year, HPE said it would acquire the networking equipment manufacturer for $14 billion in an all-cash deal, in an attempt to enhance the company’s AI offerings.